Entrepreneurial NetworksBurt Chojnowski

2005 National Business Incubation AssociationMay 16, 2005

Benefits of E-Networking

• 90% of What Entrepreneurs Learn -     They Learn From Their Peers

• Successful Role Models and Mentors

• Re-Define Failure as a Step of Innovation

• Senior Management Development

Why It Works

• Tap into Power of Collective Wisdom

• Not to Be Confused With Conventional Wisdom

• Power of Listening

• More Accurate, More Powerful Decisions

Changing the Culture

• Changing the Attitude About Startups

• Re-Define Failure as a Step of Innovation

• Changing Personal Culture- Juggling Priorities - Crisis Management- Heavy Workload- Mistakes- Anxiety

Mentoring Networks

• 2nd Stage Companies - Move from Ordinary toExtraordinary

• Early Stage• Micro Enterprise • Art-Preneurs• Food-Preneurs• Retail

• Entrepreneurial Practitioners

Networking Events

• Networking Circles

• Boot Camps for Entrepreneurs

• Workshops and Seminars• Networking Skills• Marketing• Sales Training• Business Planning

Fairfield’s Virtual Incubation

• 2003 Grassroots Rural Entrepreneurship Award – National Center for Small Communities and Kauffman Foundation

• Known as SiliCorn Valley –

• 2004 Entrepreneurial Community of the Year - Community Vitality Center

Entrepreneurial Capital of Iowa

• 60 Startups Have Attracted $250 Million in Venture Capital Since 1990

• 1/3 of Iowa’s Venture Capital Investment

• Software, Marketing, Financial Services, Media & Telecom

• Population: 9,600

Impact & Results

• Nearly a $1 Billion in New Equity

• 3,000 New Jobs in Fairfield - 25,000 globally

• Per-Capita Income has Tripled

• $10 million in New Construction (per year)

• New $6.5 million Civic Center Under Development - Theater and Convention Space

• Ranked #3 County in the Nation in Per-Capita Giving

Where to Start?

Peer Mentoring Programs For “Second Stage” Companies

• Immediate Impact on Economy• Role Models and Mentors for Startups• Angels for Next Generation of Entrepreneurs

The CEC Ecosystem

Community-Based Capital

Entrepreneurial Support Services

Peer Mentoring

Early Stage Venture Capital

Entrepreneurs

Network of 2nd Stage Companies, Serial Entrepreneurs and Service Providers

90% of What Entrepreneurs Learn - They Learn From Their Peers

Accelerating 2nd Stage Companies

Average Results

Extraordinary Results

Good to Great by Jim Collins

Transition Point

Examples of Diamonds in the Rough

• 100 year old Company - 10 years ago – $3 million in Revenues

• Today - Growing 30% in 2004 to $60 Million

• 20 year old Company – 5 Employees and $500K Revenues 10 Years Ago• Today – 120 Employees, $70 million in Revenue, $9 Billion Under Management

Burt ChojnowskiPast President, Fairfield Entrepreneurs Association

Managing Partner, Brain Belt ConsultingMember, Iowa Capital Investment Board

Burt@FairfieldIowa.biz- 641.919.2163

©2005 Brain Belt

Thank You